Word: paper
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Dates: during 1990-1999
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...Paper theft is an enormous problem for usaround campus. We keep track of how much we putinto the printer trays and how much is actuallyprinted out, and about one-third of it is stolen,"Osterberg says...
Tell that to Dr. Philip Needham, father of the cox-2 inhibitor, who calls the white paper Palmer presented to the FDA panel "a predictable effort to protect their drug." If you want evidence that Celebrex works, he says, just ask the 13,000 arthritis patients who took part in its trial. "We're getting letters saying, 'Please don't take us off,'" Needham says. And the side effects? Pretty close to placebo levels...
Mobil spent millions of dollars trying to convince us that it had the cleanest gasoline, one that made your engine run smoother. Union Camp spent millions of dollars trying to convince us that it had the cleanest paper, Great White, that made your copier run smoother. In the end, few consumers were willing to pay more for a particular brand of either common commodity--gasoline or plain white paper. Now both companies are succumbing to longtime rivals, Exxon and International Paper, in deals that were unthinkable just a short time ago. Suddenly, neither Mobil nor Union Camp could be assured...
With no hope of even a cyclical upturn in the plain-paper business, Union Camp was shunned by the investors that most influence stock prices: the mutual funds. Before the bid by International Paper, Union Camp was one of only 12 among the 66 industrial companies in the S&P 500 that still traded below its 1987 high--after a decade when that index quadrupled...
...Camp will be the remaining players--assuming the deals are approved by shareholders and regulators. The only way to get pricing under control is to take out capacity. Exxon's takeover of Mobil could lead to somewhat higher gas prices, as a price-cutting competitor gets vanquished. And International Paper's stock looks that much better, knowing it won't have to compete with Union Camp. Both companies can strip sales, marketing and technology spending out of the budgets of their prey. It is remarkable how much duplication and overlap can exist among competitors, enabling both companies to pay substantial...